GIFT breaks par to baht, sells PP shares for only 1.65 baht – penetrates IT retail

HoonSmart.com>> Board “Gratitude Infinite (GIFT)” knocked the share parity from 1 baht to 0.5 baht, proceeding to increase the capital by selling private investors (PP) in the amount of 330 million shares at a price of only 1.65 baht, very cheap compared to the market at 7 baht, up to 76%, raising funds 544.5 million baht, increasing the purpose of using 300 million baht to enter retail and wholesale businesses in the communication technology group. and related equipment by 2023

Gratitude Infinite Company (GIFT) revealed that the Company’s Board of Directors approved the change of par value (par) from 1 baht per share to 0.50 baht and offered 330 million shares to increase capital. Private Placement (PP) at a price of 1.65 baht per share, totaling 544.50 million baht, which will be proposed to the Extraordinary General Meeting of Shareholders on June 30, 2023.

The selling price of shares at 1.65 baht per share is 76% lower than the market closing price of 7 baht, or 5.35 baht per share.

Objectives of the utilization of the capital increase Originally, it will be used for Franchise restaurants, food and beverage businesses within 2023 and tourism businesses or vacation destinations in 2024, expecting returns from gross profits of about 30-40% and net profit margins of 7-10% returns. (IRR) is 7-11%.

However, under the management of the new management has sought new business approaches and expected to generate good returns for the Company thereby increasing the purpose of using the money in the retail and wholesale business of communication technology and related equipment in the amount of 300 million baht within the year 2023